Evening Star Newspaper, April 28, 1923, Page 15

BUSINESS SHOWS | SLIGHT LETTING UP Wholesale and Retail Sales! Slightly Lower—Biggest | Trade Factors of Week. | BY J. C. ROY | Special Dispatch to The Star. NEW YORK, April teen a slight easing of the I the bearings of the business machine the lust wheels of commerce of \s u consequence and industry in we the THE _EVENING W YORK CURB MARKET ‘ Received by Private Wire Direct to The Star Office. RY WILLIAWM F. HEFFERNAN. pectal Dispatch to The Star. NEW YORK, April 28.—The curb market closed the week generally fpwer, but with the main body of sjocEs receding only fractionally from the Glose of Friday. This Was espe- clully. noticeable in the motor groups, operations for the rise durlng us sessions resulted in higher In the last hour, however: therewas a moderate recovery all agpund. B tAnt reacted almost a point, but made Hp the loss as the session drew | YORK, April 28.—Following 1 gtficiul list of bonds and stocks ket toda; Lut none the the “re turning more easily basic I Some of <oftened rubber. and less effectively materials have rotably per, ce coal, coke 0il, cop- 1, zinc This caused producers of those com anxious to face market and hectic le: cotton some Gihers no uneasiness iven among modities who ure not the results of a runaway v ho [ also has 0 a talling off wholess retuil sales in a 1umber of important lines and a slight check to buliding construction This slight slowing up does not in- dicate a slump in busin On the contrary, it is regarded an us- surance that trade will remain both steady and prosperous throughout the remainder of the year and that commercial stability ~ will 1u Merchants aver that a slisht decline in public buving was to be cxpected, s consumers had purchased juxuries ind necessities in lurge quantities for many months Plant This « able R is being utilized to Premiums for immediate delivery ave | less prominent a feature of the mar ket today basic prices snow an upward v an @ downwar tendency their hooks third quarte steel nies emphasize the fact that are not for fourth quarter deliveries, Vet so heavily are the order boc burdened that it is probable delivery nnot be possiblc until the last quarter of the year. Production c fn steel have advanced a r pected to continue ev that dirction and mills ious to book heavily n that may yield no ugar advanced to ne i spite of agitation 1 Aute Output Expec As April draws to a timated that the Ford wutput will be about 5 per cer Marci AL U tiliz cet dena are W oat ater. high levels, lower prices prices profit or 160,600 trucks production r the country ited at be- tween 350,000 and the month. Sales f LIy wilt run higher than this fig through sale of stored January and February. The 3 ¥ 1ction is not far off. however. according many manufacturers Ford has ordered bu battery of dry kilns at the 1 tain body and \her aail 1other In the world Textile Buying Slackens. Buying of woolen. wors ton cloths has fallen off but mills still are heavi and far behind in mecting their liveries. The luck of effect on prices 1s shown by the fact that the ! ican Woolen Compuny has ady quotations of 11 per wool i stronz with growers the west. holding for high pr, getting them. Slightly less tageous weathe ditions helped the position of ruw Silk rose to new high tho last three years. Thu was extremely scarce and the bid- ding for this product. which touched $9.75 a gound, carried the remainder *'the n¥irket up with it. Production § and sale of finished sitks, however, | was not checked Paper production record figures and Four advance some com: <. he generally vioyers. Workers Still in Whatever check the males there has been no tor labor. Turnover « reasin for laborer slight value on their trel that they can alwuys without delay One large department store fndustrial center ix offering for every mew sales person s an employe. with a prize emplove bringing in the g rumber. Still the store i banded ed and cot- somewhat engaged de advan- have cotton. levels for) XXA & is the ready at new high live-cent-an- zranted by . it is expected, will followed by other em- Demand. € has been in | ein @ of labor is re and | in- placing they | in an{ honus ured the test short- to { i | COMMODITY NEWS i WIRED STAR FROM ENTIRE COUNTRY | ! ATLANTA. Ga., April 28 crop condltions in the improved. nrecipitation temperatures (hopping has begun in the southern part of the ud will central portions in a few hlanting is going on ern sections where rotted in ho ground during the protracted | bains ] Cotton sout still cool, slight gradually v east have ghts are but and | ing has been are belt begin in days, A today in north- | BOSTON, April 2y Leading mission house handling cotton woolen goods reported today here had been a slight slow n demand. This mav be asonal, as many jobbers already | have provided for their summer re- | inirements. Some slackening would | :ot be an evil, for mills still are con- | Lested with orders and have a diffi- | ulgy meeting deliveries H at | up | lurgely ! ANSING, Mich., April Smi- joves in two large manufacturing nts here have entered into a “buy- r<' strike” against the high cost of ugar by taking pledges to use sugar | ubstitutes. Efforts are being made | ay by the leaders in the move- | nent to extend it to other cities. KANSAS CITY, Mo.. Ap . dills are accumulating wheat. and al- eady hold sufficient to cnable them o fiil all orders on their books. The smand for flour is sluggish. but the ituation holds better promise for the | femainder of the ye | PITTSBURGH, Pa, Apifi 2 hroduction continues today at record igures in this section with prices teady. The recentadvance in tubular boods was In_the wuy of a belated | idjustment. Plants are expected to have long runs on profitable basis. BATTLI uction for the week in western Ore- n and Washington was 21 per cent ibove normal, and new business sooked was 3 per cent below produc- ion. Forty per cent of new business ooked was for delivel water P st i Lt O, DIVIDENDS. il Stock of Record May 10 Company Col. Fuel & Ir. pf. 10w Chem. Co Tow Chem. Co. pf 2 ancaster Mill pf. Q $1. ‘hillipsborn pf... Q1% B . id. Sanitary Mfg. Q $1.25 0. Banitary M. e D 1% 1 or. 101, 1 Amer April 28.—Lumber pro- % . n BONDS. hotixands igh EAUICE Packers oo Alum 35 new 830 108 Am Cot Ol 6x B81y Am Smelt & Ref 65 993, DAm Gas & Elee 6x.. 47 oIl Mills 6x. & T 0y Low 106 e s iy ey 1005 1031 097y Moy W8 1003, 1081, 24 t Seré s ( 5 = Dl it ity o it Edison anecot iy MeN & L 10015 serncaibo Il 75 3 210 United 6 Vaerum ol oil ) Mexizan Godt 1 Nwist Govt Can o Ltd Tmp- 01 of W Intes] Pet N Y Transic 1L, 13 ) A Gas 214 1100 Sales ) Vacutm Oif INBEPE it hundreds Rig Iy Bostoz Wxo Carib Synd G Cities” Service Cities: Service 5 Cons Royalties Creole. Synd Derb Gil & Ref w i Fugincers Bet Esmeraldi dil. & 6 leral ( liland 01l n Rock Gult Ol of Bu ral Pet Hudson: 0l mphfeys ian G5 td. Mamm and caio O Washington Stock Exchange LES, $1,600 a1 817e. S—$1.000 ut Washingion (s at 99% Capital Tracti com.—10 at Wash. Rw at 68, Wash., _Rwy. 1 at 7 Washington G3s Light o, prd -9 at 7, 10 10 At 4875, 10 at Lty Washington G $1,000 at 947y, $1.000 PINE Z Mergenthaler 1831, 10 at 1635, at 1 Capital Tract Potomae Elec. &, aud ref. Washington Gas 5s—$500 at $47y Wash., Balto. & Anbap. 5s—$1.000 at 751, BONDS Bid and Asked Prices. PUBLIC UTILITY. Bid iy 1L i 115, 8l ot¥pe—10 at 10 ar 1635, 163, 10 10 at 1631y Awerican Tel. & Telga. 4s. Ameriens el & Telgn:dlys... Tel. & Tel. ctl tr. 58 Am. Tel. & Teb. conv. 6 Anscostia & Potomac D5, Anmcostia & Potomac guar. 5s.. Telephone 5s. .- . " & P Telephone of Va pital Traction R and_Suburban Bs.. getown Gas Ist 5w etropolitan K. R. Potomac Elec. 1st s . Potomac cons? Be | Potomae Elec, del. 68 Potomac Elec Elec. Pow. g m Alex. & Mt. x. & Mt 9135, 102 [ 11815 5 8 96 “Rhig i Washingt Washington Wash, Rws. & Elec Wash, Rwy. & Elec MISCELLANEOUS D Riggs Realty 5 s Realty Wash. Mkt. Cold Storage bs.... Wardman Park Hatel 68 .. 700 STOCKS. PUBLIC UTILITY. American_ Tel. & Telga, Capital Traction’ . Wishington Gas Norfolk & Wash. St ush. Rwy. & Elec W Y. & Blec. pfd. Terminal Taxi com Termiual Taxl P 100 Capital .. Columbia Commercial . District ... carmers ‘and Mechanics’ TRUST COMPANY. n Security and Trust. ntal Trust Tnion Trust. Wash. Loan t Washi Security Savings and Com. reet. ational Union. TITLE INSURANCE. 8 state Title. MISCELLANEQUS. Columbia Graphophone com. Columbia Graphophoue pfd. D; € PADEr DI, vosossbisesutoiis=its Merchauts' Transfer & Storage. 100 Mergenthaler Linotype . 63 0ld Dutch Market com. Old Duteh Market pfd. T Lanston Monotype ... 8’ Becurity Storage. Washington Market 2 Real ™ 64 4% i in on the New York Curb Mar- | 1027, | 10 askea | 9515 | to a close, getting back to its high |for. the week. Reo at 19 was off | slightly from the recent top, while Cleveland and Du Pont went some- what lower. Efforts to continue the upward {movement in selected stocks were | temporarily suspended and except in one or two Instances the market was featureless, +One Incident of note was the further |fdvance in Mexican government | bonds. |~ 'The mariet for oil shares moved in | sympathy with lower prices on the | big board, but losses for the most | part were small. Mining shares were qulet. Mohican was an exception, reaching ninety. i Mount Gult 2 Mutual il ot | ew Mex Land.'. oble Ol & Gas Ohlo Ranger Omar Ol & Gax Pean Beaver Ofl.. Pennock Ol Roy Can Ofl & Ret Sait Ck Cons ... Salt Ck new Hanta Fe 0 & G Sapulpa Refin 3 Seaboard 01 Southern P & R Sou States 01l Texon Ol & Land. Turman 0i Wilcox Ol & Gns INDUSTRIALS, Acme Coul ....... .35 Awmal Leather [0 Ty Am Cot’ Fabric ptd 101 Am G & E new wi 351 Am Drug ... Ar & Co of Del pfd Atiantle Fruit Aw Stores Borden & Co .. Bridgeport Mk Brit-Am Tob Cou.. Bilyn City R R Buddy Buds Ceutral States Cent Terews o Centrifug_Iron Pips Chicago Nipple a5 Chle Steel | Whee ni Cui SCL Wheel prd | Cleveland Motor Col Carb Co vot cf Douglas Rerfection 3 s, | Dubilier C & Radio Durant Motor Durant Mot of Tnd Dupont Motor i Gillette S K { 4 Glen Alden Conl 10 Goodsear Tire 10 Hydrox Corp .. 1, Lehigh Val Coal 1 3 Midvale Co 21 Mercer Motor 34 Mercer Mot vot cfs 1 Mesabl Tron ... up Co of Dei anners w 1. : 2 N Y Tel Co pta.. 0%, | 3 Oseldn Corp .- 7 Prima Radio Co .. . & Radio Corp ; i Vot El Motor Loomy pra Swift Tntl , Switt & Co Technieal Prod Tob _Prod Exports Retail Cand Lt & Heat pfd Distributor 3 Univ Pipe w i 2 Waring Hai Mall ne . Conl Willyw Co Ist pfd 1 Wil Co Ist pf of dp 4 Western Feed Mfe 4 Yed Taxi Gorp N ¥ MINING. 2 Alas Brit-Colo iz Globe Copper i 0 Bix Ledge o0 ) Boston Moot Corp ' Butte & Western Copper Copper ndelaria Min ino Ext M ntineatal ns Cop. Min us Nev Utah 48 Cortez 24 Cresso 10 Divide E Dolores Esper Emma Silver 40 Eureka_Croesus 14 First oD’ - Develg 30 Goldtield Deep WMo 10 Goldtield Floreoce. 10 Goldfeld Jackpot. | 14 Coin’ Hin | id State . {10 Hardshell Miu 0 Harmill Div ) Henrletta Silver Top Nevada. . Tollinger 1 Hecla M- 10 Homestake Ext Howe Nouud . 30 Independence Iron_ Blossom erome Develop Jih_ Cons Kerr Lake 10 Kewanas Mining © Keily Ext Min ... 60 Lone Star Lead 1 a 1% 41 Mohican #0 National 16 New Dominion Cop New Jersey Zinc . N & Poreupine ipissing ... 105 Ohio Cop ... # Hay Hercules lnc. | 30 Rea Hill Fiorence 10 Rex Cons ..... 70 Richmond Copper. 18 Salida Mines .. = St Anthony G M Lt 20 Bilver M of Amer. . 308 K DM reor.... 1 Silver Kiog Cons 34 Kpearhead Gold 20 Steward Mines Success Mines Teck Hughes = Temiskaming Mines .48 1 Tono Belmont . Tonopah_ Divide' Tarbox Mine ... 11 Tonopah Extens ... Tonopah Min 2 Tuolumne . 4 TUnited Eastern 10 Unit Imp Mines 1 United Verde Ext 1 8 (ontinental 15 Unity Gold ...... #4 West End Consol 10 West End Ext . 20 Yerrington Mine 9 Yukon Gold .. ... TRADE LESS UNIFORM. Bradstreet’s Sums Up Business Sit- uation for Week. NEW YORK, April 27.—Bradstreet's today says. “The advent of brighter, warmer Wweather, this aiding retail trade and crop planting and growth, and the maintenance of most lines of indus- try, this including building at high, if not record, levels, are the distinct- ly favorable features of the week. | On the other hand, wholesale buying |2na bookings by ‘manufacturers for the further future are again quiter, while collections still lag. There are enough irregularities in both retail buying and in the purchasing for the further future to rob the general dipiributive trade movement of the appearance of uniformity which it Possessed a month ago. “Still, employment s apparently in excess of the supply of labor, and special mention s noted of some rather marked shifting of eommon labor from one section of the coun- try to the other under the stimula- tion of higher wages or bonuses. This is especially marked in the building trades and industries, which call for large quantities of common labor. 000 eekly. bank clearings, $7,170,680,- DECLINE IN FAILURES. NEW YORK, April 28.—A decline in the number of commercial failures this week contrasted with last week 1s reported by R. G. Dun.& Co., and Bradstreet's. The former agency lists 358 failures this week, compared with 418 last week and 643 in the same week last year. Except for the west every section in the country showed fewer failures this week. Bradstreet's report for the week ending April 26, registers 385 de- faults, compared with 386 last week, 500 a vear ago,351 in 1921, 135 in 1920 and 93 in 1919, | chasing a shade to ' off, and provisions rang- STAR, WASHINGTON, D. C, Danger Signals in Markets Heeded During Past Week Runaway Buying Movement Averted. Railroad Stock Puzzling—Immigra- tion Problem Grows More Vital. BY STUART P. Special Dispateh to The Star. NEW YORK, April 28 havior of the security markets this last week has signified indorsement of the view that whatever dlnlerous; tendencles there were in the business | situation & month ago have been checked In time. Whether or not the | check will be lasting is the question at ssue now, and uncertainty as to the answer is the explanation un- doubtedly for the quieting down on the stock exchange and the more or less hesitating price movement. The chiet difficulty has been overeagerness in certain lines to do the biggest possible business, Par- ticularly has this been true in the bullding trade, and the result was the forcing up of wages to an exorbitant height and the creation of a demand WHST. | |it comes to the erop moving it is \ virtually sure that the traflic siate- | ments are showing that the gross -The be-|profits resulting from this huge | freight movement are not being |eaten up as they were the before by unusual operating c. Hall Stocks Pussling. 1t is generally recognized that the ratlo of net gross will be even better in April and in the months to come, because weather conditions will have |been more favorable. With all this | stocks do not move, are indeed com- ratively neglected in the market. Why this should be so is one of the | most interesting questions at the present time. Many in Wall street will say that it is because the day for the “rails” the | has not yet dawned, that in due time | the powers that be will take them }in hand and that then the public, 8o | apathetic now, will rush in to buy. |The other explanation, sometimes [ heard, 18 not so satistying to holders | of the raflway shares. It is that In- { vestment interests, looking far ahead, for steel and other materials entering | that s to the assembling of the new into coustruction enterprises, of such | Congress, with its strong antl-rail- urgency as to threaten an abnormal |road bloe, prefer to see fewer rail advance in prices. ocks and more of something else Situntion Considerably {in thelr strong boxes even at the It was a_ distinet rellef to learn |PFeSent thme from the midweck reviews of the steel Immigration and the Farme) trade that bullding contracts had fall- | 1t is quite unpopular at the moment en off a third from the peak of March. |to take au stand against the im- This, alonk with the fact that the migration restriction laws. When the more pressing requirements for rail- | clairman of the United States Steel Wiy equipment. have been met. and | Corporation at the annual s that users of steel in other directions | holders meeting uttered som are well supplied for three to six |cisms, he was roundly months ahead, has eased the situation | M&NY quarters. considerably | Politicians looking to 1924 do not care The volume of consumption is still | how much the labor shortage forces up enormous, but it no longer involves, | wages and how much the rise in wages it did @ wmonth ago. the risk of | forces up prices. And this may have 4 runaway buying movement. If | unpleasant consequences later on, but things continue this way inflation | so long as these are delayed another need not be seriously feared. If, how- | eighteen months it is good politics to ver, business men become overenthus- | talk on the side of upholding the pre stic and extend themselves regard- | ent state of things. One contingency. ess of what they have to pay for|however, will be awaited With consid- materials and labor. then the out- | erable interest, and that is the effect of look will become cloudy once more. | the general raising of industrial wages The most remarkable phase of the |upon the supply of farm labor when it situation is the relation of trade eX- | comes to the harvest season. pansion and bank credits. According |~ When the farmers have to compete to the Federal Reserve Board, pro-|against manufacturers who have just duction_throughout the country dur- | P o B e cont. ing March was 8 per cent above the | b (B (VT PRV SIS TG In Rl be highest reached in the inflationary | % YHCUreh (€ Jey HSE SRUCH I 0 era of 1920. Yet the latest combined | Fius &O0H o Statement of the twelve regional | ticts secing thelr labor costs go up and banks showed that total scounts i ey il e loos | The. reaction of an outery from this from the season’s iigh 000:999 ¢ quarter upen the political mind will be Railway tonn: Jntinues to break | Most interesting to observe. d when | (Copyright, 1923.) WEEK IN MARKET WHEAT HITS BEST PRICES OF SEASON FEATURED BY 0ILS Weekly Grain Review Shows Much | French Bonds, Sugar Stocks and Better Buying for Shipment Studebaker Attract Special to Europe. Attention. med. prices in large counterbalanced. ssociated Pres NEW YORK, April 28.—Stock prices moved within a narrow trading area this week, but the undertone was firin Bond prices also fluctuated within narrow and frregular limits, the feature of that market being the strength of the French issues, most of which established new peak prices for the year. Professional activity centered largely in the ofl share The cut in mid-continent erude prices resulted in extensive short selling, but this was checked by the an- nouncement of an agreement of Cali- fornia producers to limit production. Offerings were Increased later, how- ever, when gasoline prices were cut one cent a gallon for the second time within a week Marking up of the raw and refined sugar prices to the highest levéls in ore than two years revived interest in the sugar “shares. Automobile shares also were quite active in sponse 1o record earnings. Stu baker was heavily bought toward the end of the week on reports that the earnings for the first quarter to be published next week would show aboyt $8 a share. DANISH BUTTER CLUB OVER"U. S. MARKETS by the S ssociated Press. CHICAGO. April 28 —Enlarged pur- for shipment to Europe has been a factor this week in lifting to a new high price record for the sea- son all deltveries of wheat. Corn, 100, surpassed the season’s previous top Compared with a week ago, ¢ this morning showed % to 1% n was % to 1% up, oats whe advance, ¢ ing from 7 decline to an equal gain. With export business frequentiy up- ward of 1,000,000 bushels a day, and with traders watching sharply for signs of a settlement of difficulties between Germany and France, the wheat market tended to rise during the greater part of the time, despite heavy selling to realize profits. It was a popular opinion that a Franc V man settlement would enable many to take much more grain from the United States than for a 3 while heretofore has been possible. Hope of &uch a development, how. eve waned somewhat as the week drew to an end. Improvement in the both as to spring and winter wheat, did a good deal also to make the wheat market less one-sided in the latter half of the week Better demand from shippers here. together with a scarcity of ural offerings, furnished independent strength to corn, but oats had no spe- cial support Notwithstanding continued heavy | marketing of hogs, demand for pro- visions was of volume sufficient to hold values about steady. WAGES INCREASED | shows Bet ON GREAT LAKES; CHICAGO. April 28.—Althugh this week's butter market was steadier % Aoy than in the preceding seven days. the net results were declines. Thoughout the week buyers were cautious. Some demanded and received protection against future declines to the extent of the entire time the butter remained in buyers' handg. That policy became less popular, however, as the week wore on. . Foreign butter again influenced the market. On April 24, 1,050 casks of Danish’ butter, including 500 casks in bond for Canada, arrived in New York. ‘The shipment acted as a club over the market, increasing the senti- (W01 ment for lower prices. Reports from all markets agreed that the average quality of receipts had shown some deterioration. The quotation on 92 score stock at the four leading butter markets at yesterday's_close_was: Chicago, 40, one point loss; New York, 42, one- hal? point loss: Boston, 42,"one point and Philadelphia, 41%, one point crop outlook, Prices Decline During Week. Cautious—Quality Shows Deterioration. | Buyers | 1 | EVELAND, Ohlo, April 28.—The Lake Carriers’ Association announces a 10 per cent wage increase over the 1922 fall scale for employes on its great lakes steamers and barges ef- fective May 1. Chief cooks on steamers of ove 4,000 gross tons will receive §155 a month, and those on vessels under; 4,000 gross tons $1388, with second cooks receiving $58. Cooks on barges will recefve $105. Boatswain_and deck engineers on steamers will ge $121, and wheels- men, lookouts, firemen, oilers and $105; ordinary seamen, 77: porters. $75, and coal passers, $72. Mates on tow barges of larger class will be paid $125, as will engineers on tow barges carrying towing ma- chines. Mates on barges of the small- er class and able-bodied seamen on tow barges and donkeymen will re- ceive $10: _—— SHORT TERM SECURITIES tations furnished by Redmond & Co.) (Quotatio y et Offer. loa% 108 05% 1001 88" 90 1021 1003, 1161 1021 WHEAT BILL DEFEATED. WINNIPEG. April 28.—The wheat board bill, Introduced in the legisla- viding for Manitoba’s participation in the establishment of western compul- sory wheat board, was defeated last evening when the measure was up for second reading. The vote was 24 to 21. Alminum Co, of Amer. Ts 1925 ‘Aluminum Co. of Amer. American Cotton 0il American Sugar 6 1. Awmerican Tel. & Tel. Amerlcan Tel. & Tel. 6« 18 Anaconda Copper 6s 1928 APRIL | the advantage of the rise in agricultural | ture by Premier John Bracken, pro- | 28, 1923. BAR SILVER QUOTATIONS. LONDON, April 28—Bar sllver, 32 15-16 pence per ounce. Money, 1% per cent; discount rates: $hort bills, 1%al% per cent; three month-bills, 2 per cent. NEW YORK, April 28.—Foreign bar silver, 67%; Mexlcan dollars, 513%. Our “Property Man- agement Department” is all that the name im- plies—because we have developed and special- ized in this business. RENTS B.F. SAUL CO. i Mortgage Loans i1 1412 Eye St. N.W. + ! Phone Main 2100 ! i | Foreign Exchange Quotations By Radio Daily at 10 o’clock from Sta- tion WIAY of Woodward & Lothirop the latest quotations will be broadcasted. Rates by private wire from New York Special phone, Foreign Depar’~ ment, M. 8222 The Washington Loan and Trust Company 900 F Street 620 17th Strest | First Mortgage Loans | Lowest Rate: of Interest and Commission, H Prompt Action Thomas J. Fisher & Company, Inc. 738 15th Street. if you have money to invest, we can safely place it on gilt-edge first D. C. Mortgages. Our record of 30 years insures your pro- ] tection. Courteous treat- | ment. Percy H. Russell Co. S.W. Cor. 15th & “K” Sts. lnvestigate 8% Coupon” Mortgage 1| Notes. Interest payable quar- 1]l terly at any bank or trust com- pany. Conservatively secured on real estate loans. A wonder- ful opportunity to invest with I sarety ana gec | 8% Net on Your Funds Amounts of $100 Up to $5,000 Apply Mr. Kelley Capital Mortgage Co. 924 14th Street . 36 1 5-Year Money to Loan Becured by first deed of trust on real estate. ¥ Joseph 1. Weller 43 Wesn, L, & Trugt From $50 to estate_and household tels. 7 per cent intere charged. Come in and let us sx. ofkin our metbod of making Smal n Commercial Loan & Finance Corporation’ Room 211, 921 15th Bt. N.W. System Copyrighted & Pateiit EQUITABLE ‘ Co-Operative Building | Association | Organized 1579 434 YEAR COMPLETED | -$4,657,859.58 | -$1,180,880.91 “Save While You Have the Opportunity” | Adopt the systematic savings plan of the Equitable and you will ac- Complish more than ever in savings. Subscription for the | l 84th Issue of Stock Being Received Il Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. NW. - JOHN JOY EDSON, Presaldent FRANK P. REESIDE, Seey. Anaconda Copper Ts_1920. 108 Anglo-American Assc. Simmons Hdw. ‘7s 1 Bell Tel. of Canada 78 1825.. Bethlehem Steel 7s 1923 Canadian Northern 5%s Cent. Argentine Rwy Central Leather 5s 1925 C.. C. C. & 8t. L. 68 1030 Ciileago Tel. bs 1923 Du Pont 7ts 1831.. Goodyear T. & R. 88 1031. Great Northern 75 1938... Hocking Valley 63 1924 Humble Oil 5%s 1932, Kansas City Term. 6s Kemecatt Copper 78 1630 Libby, McNeil & Libby 7s 1681, M., 8t P. & 8. 8. M. 614s 1931. Morris & Co. 738 1830. 1 Peans. R. R. 7a 10304. 8t. Panl Union Depot Bei k. . 7 1924, 1027. Union Tank Car Rubber 7 TREASURY CERTIFICATES. uotations furnished by ‘Redmond & Co.) (Quotations o 8 n 18, 1923. . :3: September 15, 1923. . Ofter: 99 81-32 100182 2582 90 29-32 s September 15, 1923. 48, Decomber 13, 1023. . 43 March 15, 1024. 41in September 15, 1636 4334 December 13, 1927. e FINANCIAL. Where There’s a Will— There is only one way to have your will executed—and that is the way you would do it yourself. Unfortunately, wills are not always executed that way—for the Executor has had no experience in such matters Name the Trust Department of this Bank- as co-executor in your will, and you can be assured of the careful administration of your estate by ex- perienced men. - Second National Bank “The Bank of Utmost Service” ALEXANDER WOLF VICTOR B. DEYBER Trust Officer President 509 Seventh Street 1333 G GILT-EDGE SECURITIES 7%, First Mortgage Notes Secured on Improved D. C. Real Estate Appraised by Experts of 35 Years’ Experience Without a Loss Offered in Denominations of $250 and Up A Good Investment. WILL PURCHASE First and Second Trust Notes Warehouse Receipts and Make Construction Loans National Mortgage & Investment Corporation 811 Vermont Avenue N.W. MONEY TO LOAN ON FIRST MORTGAGES AT CURRENT RATES OF INTEREST Randalt H Hagner & Ca 54 Years Without Loss to An Investor O the record of Swartzell, Rheem & Hensey Company has been added another year. Throughout the entire period of our existence—54 years—we have maintained a record of prompt pay- ment of both principal and interest with- out loss of a penny to a single investor. Such a record of honorable and useful service should be your guide when seek- ing a conservative investment. Our First Mortgage 6> Notes, secured by the highest type of improved properties, are available in denominations of $100 and upward. Our Officers Will Be Glad To Confer With You. Swartzell, Rheem & Hensey Co. 727 15th Street Northwest Washington, D. C. Save and Invest One of our investors says he takes 612 % and can sleep. A long story in a few words. He don’t speculate he buys Safety with a fair return These notes are known to be . SAFE INVESTMENTS WITH A WIDE MARGIN OF, SECURITY Paying 6 and 6% . (PAYABLE SEMI-ANNUALLY) Shannon & Lfichs First Trust Notes Built on a Straight Line of Return Not a Fluctuating y.lue ;Sold in Denominations of $100, $500, $1,000 FULL INFORMATION Since 1906 MORTGAGE DEPARTMENT 713 14th St. N.W.